Press release
Utility Grade Duct Tapes Market : Insights into the Competitive Scenario of the Market
The global utility grade duct tapes market is likely to exhibit steady growth in the coming years due to a number of factors, including the rapid growth of the packaging industry and the construction sector, which account for dominant shares in the global consumption of utility grade duct tapes. Utility grade duct tapes account for a variety of roles in a number of sectors due to their diverse applicability for packaging as well as repairing.Growing availability of environmentally viable utility grade duct tapes is also likely to be a major driver for the global utility grade duct tapes market in the coming years. The utility grade duct tapes market is thus likely to exhibit robust growth over the 2017-2022 forecast period, with Transparency Market Research predicting a strong 5.1% CAGR for the utility grade duct tapes market between 2017 and 2022.
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Transparency Market Research estimates the global utility grade duct tapes market to reach a valuation of US$395.1 mn by the end of 2017 and further rise to US$505.6 mn by the end of 2022.
Repairing to Remain Dominant Application of Utility Grade Duct Tapes in Global Market
The report segments the global utility grade duct tapes market by application into sealing, repairing, holding, waterproofing, strapping, and others. Of these, repairing is likely to remain the leading application of the global utility grade duct tapes market over the 2017-2022 forecast period. Duct tapes present significant benefits in repairing tasks due to their high adhesive power, especially in the case of advanced modern alternatives, and their easy applicability.
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Europe to Remain Dominant Contributor to Global Utility Grade Duct Tapes Market
Geographically, the global utility grade duct tapes market is segmented into North America, Latin America, Europe, the Middle East and Africa, Asia Pacific except Japan, and Japan. Of these, Europe is likely to remain the dominant contributor to the global utility grade duct tapes market over the 2017-2022 forecast period due to the steady rise in demand for DIY applications in Europe.
North America, APEJ to Exhibit Steady Promise for Utility Grade Duct Tapes Market
Despite the dominance of Europe in the global utility grade duct tapes market, North America and Asia Pacific except Japan are also likely to exhibit significant promise for the global utility grade duct tapes market due to the rising presence of the market in these regions. The North America utility grade duct tapes market is likely to exhibit a strong 5.9% CAGR between 2017 and 2022, rising to a valuation of US$145.7 mn by the end of 2022. The APEJ market for utility grade duct tapes is likely to rise to US$138.8 mn by the end of 2022 at a strong CAGR of 5.8% over the 2017-2022 forecast period.
Global Utility Grade Duct Tapes Market: Competitive Dynamics
Leading companies in the global utility grade duct tapes market include 3M Company, Berry Global Group Inc., Tesa SE Group, Intertape Polymer Group Inc., Shurtape Technologies LLC, Scapa Group Plc, Vibac Group S.p.a., Bolex (Shenzhen) Adhesive Products Co. Ltd., Pro Tapes and Specialties Inc., and Shanghai Yongguan Adhesive Products Co. Ltd.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.
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